Estee Lauder expands paid parental leave to 20 weeks and other family benefits

Estee Lauder Cos.
EL, +0.46%
said Wednesday that it is expanding its family benefits, including 20 weeks of paid parental leave irrespective of gender effective May 1, 2018. Other benefits include six weeks of back-to-work flexibility to help with the transition from parental leave, reimbursement of up to $10,000 for expenses tied to adoption of a child, and an expansion of back-up care to include children and adults at home. Previously, the back-up benefit was for children in care centers. These benefits will be available to all U.S.-based full-time employees who have been with the company more than 90 days. Estee Lauder shares are up 15.3% for the year so far, outpacing the S&P 500 index
SPX, +0.01%
which is down 1.8% for the period.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.